Endogenous Spatial Regression and Delineation of Submarkets: A New Framework with Application to Housing Markets
提出一个结合空间异质性和内生空间依赖的框架，通过聚类住房特征和特征价格函数来划分住房子市场，并以葡萄牙城市群为例验证了该方法能反映城市空间结构的历史与内生演化。
Summary Housing submarkets have been defined by different criteria: (i) similarity in house attributes; (ii) similarity in hedonic prices; and (iii) substitutability of houses. We show that spatial clustering on (i) and (ii) also satisfies criterion (iii) and develop inferences based on functional linear regression of a hedonic house price model. Then, we delineate submarkets by clustering (jointly) on the surfaces of the estimated functional partial effects and housing features. The above model incorporates both spatial heterogeneity and endogenous spatial dependence. Application to an urban conglomeration in Portugal implies submarkets that emphasize the historical and endogenous evolution of urban spatial structure. Copyright © 2015 John Wiley & Sons, Ltd.